NEW YORK ? U.S. stock futures are falling Wednesday morning with markets in Europe giving up earlier gains.
Markets in Germany, France and London are now showing losses of as much as 0.6 percent. They rose earlier after the European Central Bank loaned a record amount to the continent's banks in an effort to bolster Europe's stressed financial system.
Less than an hour before trading opens in New York, Dow Jones industrial average futures are down 14 points to 12,017 while futures for the broader S&P 500 are down 3 to 1,233.
On Tuesday encouraging signs out of Europe and a surprisingly strong report on the U.S. housing market drove the Dow up more than 300 points. It was the best day for stocks this month.
Futures for the tech-heavy Nasdaq are down 4 points to 2,263. Technology stocks should be active after disappointing earnings late Tuesday from Oracle Corp. added to concerns that major companies and government agencies are curtailing technology spending.
In Europe, the initial optimism over the ECB's loan results gave way to the reality that the credit infusion for the banks only treats one of the symptoms of the debt crisis. It does not remove the reasons banks remain wary of lending to each other ? especially, their thin levels of capital reserves against potential losses. And it doesn't cut the large levels of debt carried by governments.
Asian markets rose earlier, as positive signs from key Western export markets helped shore up sentiment that was jolted by the death of North Korea leader Kim Jong Il and fears of a possible power struggle in a country pursuing nuclear weapons.
Hong Kong's Hang Seng added 1.6 percent to 18,368.6 while China's benchmark Shanghai Composite Index ended down 1.1 percent at 2,181.15.
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